Russell 2000 (RTY) 5 Day Up Streak Ended; Price Base in Formation Over Past 14 Days

The Hourly View for RTY

Last Updated June 29, 2021, 02:019 GMT

Currently, E-Mini Russell 2000’s price is down 0 (0%) from the hour prior. E-Mini Russell 2000 has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 100 and 20 hour changed directions on RTY; they are now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Russell 2000 Daily Price Recap

Russell 2000 is down 0.52% (12.06) since yesterday, marking a reversal from the day prior — and the end of a 5 day positive run. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 9th since yesterday in terms of percentage price change. The daily price chart of Russell 2000 below illustrates.

RTY

Russell 2000 Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Russell 2000’s price has gone up 5 them.